Based on the price and quantity changes, the following are correct:
- Slope is -0.6.
- Elasticity of demand is -4.44.
What is the slope of the above?
Slope can be found as:
= Change in price / Change in quantity
= (4.99 - 7.99) / (8 - 3)
= -0.6
What is the elasticity of demand?
This can be found as:
= Percentage change in quantity / percentage change in price
= ( (8 - 3) / 3) ÷ ( ( 4.99 - 7.99) / 7.99)
= -4.44
Find out more on elasticity of demand at https://brainly.com/question/12272719.
